MasterCoin: New Protocol Layer Starting From “The Exodus Address”

[dacoinminster]

Thanks for the Mastercoins I will have to try harder

I received the Mastercoins via my QT wallet if I send my remaining balance to the exodus address how would I differentiate them from the bitcoins I received from other sources.

As an implementation question I can differentiate the two Mastercoin transactions above.
However how would it work if I transferred the balance in my wallet to exodus.
(Would they be recalculated as part of a mastercoin or are they identified as mastercoins already)

When reading the paper I noted this part that said

"all transfers of value are still stored in the normal bitcoin block chain, but higher layers of the protocol assign additional meaning to some transactions."

If that higher layer of protocol design is assigned to the current test coin and mastercoin I possess how do I determine it's existence

Sorry if this question is a bit confusing still on the learning curve.
Off to catch up on 28 pages

You can do anything you want with those bitcoins, including buying more MasterCoins.

Your MasterCoins will stay at that address until you publish a message from that address transferring them. The message has to be in a very specific format, but it doesn't matter which bitcoins you use to send the message as long as the message comes from that address.

[dacoinminster]

BTW:

1.
Can we start a Weekly MasterCoin update threads?
SunnyKing does this with PPCoin and PrimeCoin, and I think it's terrific. It's one concentrated thread where only you can post, that provides clear updates about "the state of the coin".

Right now, post #2 in this thread (https://bitcointalk.org/index.php?topic=265488.0) is kept updated with the current state of everything. I hope to continue updating it regularly.

2.

Is there a better place to post feature requests? (Well we can post them here / the google group, but we should really have some organized issue tracker. How about a github repo?)

...

Theoretically, MasterCoin parsing could be implemented entirely using greasemonkey. However, this would be extremely non-scalable. I've been trying to focus development efforts on scalable python/C++ code, but there is certainly room to do some Greasemonkey bounties if you guys would like to see that script become more capable.

What about my suggestion to open some centralized place to coordinate feature requests?
It can be Trello, Github, or whatever ... but it should be something.
Is this the official mastercoin github organization?
Could I be added as admin?
Can we open a repository on it (let's call it "Project" or something), and just use it to collect issues and feature requests?

Or, alternatively ... whatever other suggestion you'd prefer (as project lead, the system should be whatever system you're comfortable with the most)

This is what I'm currently using:
https://github.com/dacoinminster/MasterCoin-Adviser

I figured out how to add you as a "collaborator", but I don't know how to add you as admin . . .

I haven't looked into how to create a top-level github address for my project, but the one you found is not mine (probably it belongs to the alt coin).

I don't have feature-request tracking other than what you've started, and I'm happy to use those tools as long as they work for us.

[dacoinminster]

Can you add reddit.com/r/mastercoin to the OP?
It's an important link for the redditors among us.

(P.S. we really need a website ... let's start discussing an appropriate bounty?)

Done.

Anybody have opinions on what a basic website should cost these days?

I'd like to do "closed bounties" where we announce the bounty, take applications, then choose somebody to implement it. Open bounties (where everybody is doing the same work and the first one done wins) won't attract the best talent.

[freedomno1]

Thanks for the Mastercoins I will have to try harder

I received the Mastercoins via my QT wallet if I send my remaining balance to the exodus address how would I differentiate them from the bitcoins I received from other sources.

As an implementation question I can differentiate the two Mastercoin transactions above.
However how would it work if I transferred the balance in my wallet to exodus.
(Would they be recalculated as part of a mastercoin or are they identified as mastercoins already)

When reading the paper I noted this part that said

"all transfers of value are still stored in the normal bitcoin block chain, but higher layers of the protocol assign additional meaning to some transactions."

If that higher layer of protocol design is assigned to the current test coin and mastercoin I possess how do I determine it's existence

Sorry if this question is a bit confusing still on the learning curve.
Off to catch up on 28 pages

You can do anything you want with those bitcoins, including buying more MasterCoins.

Your MasterCoins will stay at that address until you publish a message from that address transferring them. The message has to be in a very specific format, but it doesn't matter which bitcoins you use to send the message as long as the message comes from that address.

To confirm the wallet could remain empty since the wallet itself is the address.
I can then send the mastercoins by signing a proper message and move the Mastercoins at any time.
If the wallet is empty a small amount of bitcoins could be sent in order to transfer and confirm the mastercoins have been sent to another address.

Or when there is a Mastercoin client I can confirm my ownership by initiating a transfer and signing and verifying the message.
Or sell it to other users who have proper bitcoin clients to accept the transaction.

What type of message would need to be signed in order to ensure that the Mastercoins were transferred.

Thanks for the reply, feel free to correct any mistakes I might have made.

[ripper234]

BTW:

1.
Can we start a Weekly MasterCoin update threads?
SunnyKing does this with PPCoin and PrimeCoin, and I think it's terrific. It's one concentrated thread where only you can post, that provides clear updates about "the state of the coin".

Right now, post #2 in this thread (https://bitcointalk.org/index.php?topic=265488.0) is kept updated with the current state of everything. I hope to continue updating it regularly.

When SunnyKing updates his thread, everyone gets a nice email notification about it, instead of trying to psychically guess when you update this thread (and this thread is quite noisy, so people won't necessarily subscribe to it)

What about my suggestion to open some centralized place to coordinate feature requests?
It can be Trello, Github, or whatever ... but it should be something.
Is this the official mastercoin github organization?
Could I be added as admin?
Can we open a repository on it (let's call it "Project" or something), and just use it to collect issues and feature requests?

Or, alternatively ... whatever other suggestion you'd prefer (as project lead, the system should be whatever system you're comfortable with the most)

This is what I'm currently using:
https://github.com/dacoinminster/MasterCoin-Adviser

I figured out how to add you as a "collaborator", but I don't know how to add you as admin . . .

I haven't looked into how to create a top-level github address for my project, but the one you found is not mine (probably it belongs to the alt coin).

I don't have feature-request tracking other than what you've started, and I'm happy to use those tools as long as they work for us.

I created https://github.com/organizations/mastercoin-MSC right now, we can use it if you'd like for various MSC projects.
I have a feeling github will work better than Trello for the specific purpose of features, I started creating issues on this repo.

[freedomno1]

Can you add reddit.com/r/mastercoin to the OP?
It's an important link for the redditors among us.

(P.S. we really need a website ... let's start discussing an appropriate bounty?)

Done.

Anybody have opinions on what a basic website should cost these days?

On average, the following figures can be applied to estimating the cost of a small business web site

Domain Name – $10/year
Hosting – $25 to $200 a year (depending on traffic & hosting services)
Web design and development time – 60 hours and up
Continued website Maintenance – $500 a year and up (depending on number/type of updates required)
Marketing your website online – $750 a month and up

http://www.executionists.com/blog/website-design/cost-to-build-websites-2013/

Can be done for less but time is the cost.

Hmm reading through the posts already see one
http://ciyam.org/

[ripper234]

On average, the following figures can be applied to estimating the cost of a small business web site

Domain Name – $10/year
Hosting – $25 to $200 a year (depending on traffic & hosting services)
Web design and development time – 60 hours and up
Continued website Maintenance – $500 a year and up (depending on number/type of updates required)
Marketing your website online – $750 a month and up

http://www.executionists.com/blog/website-design/cost-to-build-websites-2013/

Can be done for less but time is the cost.

FYI, I have opened this issue on github dedicated to the design phase of mastercoin.org.

If anyone is interested to propose design concepts, talk about the right bounty for this issue, or tell us how much he would charge and what we'll get in return, be our guest.

(You're welcome to check out the other issues I opened and submit more of your own)

[Wagner2014]

Another newbie question: how or when do I receive my MSCs now that I've sent some bitcoin to the exodus address? Thanks.

[hmmmstrange]

Another newbie question: how or when do I receive my MSCs now that I've sent some bitcoin to the exodus address? Thanks.

You now have them. Congrats.

[Wagner2014]

Another newbie question: how or when do I receive my MSCs now that I've sent some bitcoin to the exodus address? Thanks.

You now have them. Congrats.

How do I know I have them? I just see - # of bitcoins send deducted. The transaction was confirmed. No FAQ?

[hmmmstrange]

Another newbie question: how or when do I receive my MSCs now that I've sent some bitcoin to the exodus address? Thanks.

You now have them. Congrats.

How do I know I have them? I just see - # of bitcoins send deducted. The transaction was confirmed. No FAQ?

If the transaction shows up on the block chain you have the coins.

You can double check here if you want.

https://blockchain.info/address/1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P

If you just sent them you will have a ~6.8% bonus.

[klee]

Besides the giveaway I decided to buy some too:

407b1385e8a3c332b559a50fad0956c8f853a939e86f4662beed43d5ada8efa6


Question: How do you sell them?? LMAO 

[peer2peer360]

As I was gearing up to invest in this project
my blockchain wallet all of a sudden started giving me
problems! been using it for months and it never had
an issue until 2 days ago.

the bitcoins to invest in mastercoin are still stuck In my blockchain
wallet!

hopefully I can have the issue resolved before Sept 1st

I want in!

[dacoinminster]

Besides the giveaway I decided to buy some too:

407b1385e8a3c332b559a50fad0956c8f853a939e86f4662beed43d5ada8efa6


Question: How do you sell them?? LMAO  

Technically, it is possible to sell MasterCoins right now, since it is possible to send them. It would be like selling litecoins for bitcoins, and you'd have to decide who sends first.

However, once the coins have been transferred a couple times, it gets harder and harder to keep track of them. Software to track MasterCoin transfers is the next major milestone. After that will come the distributed exchange, and you'll be able to sell MasterCoins without having to worry about trust or reputation.

As I was gearing up to invest in this project
my blockchain wallet all of a sudden started giving me
problems! been using it for months and it never had
an issue until 2 days ago.

the bitcoins to invest in mastercoin are still stuck In my blockchain
wallet!

hopefully I can have the issue resolved before Sept 1st

I want in!

Don't worry, you'll still be able to buy MasterCoins after September 1st, from people like our friend above. However, they could be more expensive!

[dacoinminster]

Check out the interview I did with bitangels:

https://docs.google.com/file/d/0B3nInaIJVqrtc3NqdkloLTZNOXM/edit?usp=sharing

In that video, I use screen-sharing to explain MasterCoin to potential investors and demonstrate what it can do so far.

I added this link to the OP too

[Infinum]

I've read all you have written and watched your talk at the conference and screen-cast and still have problem with your design - escrows are flawed.

Besides you've "invested" 1200 BTC into MasterCoins i.e. send BTC from address you control to address you control, and all other funds you've gathered from people so far sum up to 31% of all MasterCoins, so you control most MSCs.

Secondly, you want still more money from us, yet you have not provided ANY business plan for actually using the funds in productive way.

And finally, what problem are you solving really?

[addzz]

just a test:
 f66fb3cd3d95ecaebcb071382644232b62cf6ed2fb448b2313635a690901e937

Still reading up on it to understand though

[dacoinminster]

I've read all you have written and watched your talk at the conference and screen-cast and still have problem with your design - escrows are flawed.

Besides you've "invested" 1200 BTC into MasterCoins i.e. send BTC from address you control to address you control, and all other funds you've gathered from people so far sum up to 31% of all MasterCoins, so you control most MSCs.

Secondly, you want still more money from us, yet you have not provided ANY business plan for actually using the funds in productive way.

And finally, what problem are you solving really?

Hi, and welcome to the bitcoin forum. I'm sorry to hear you don't like what I am doing.

I'm adding functionality to bitcoin which doesn't currently exist, which I believe solves numerous problems, but you should already know that since you've read everything I've written and listened to everything I've said.

This protocol layer is opt-in, and it doesn't sound like you will be opting in. That's cool. I hope you find other fun uses for bitcoin.

[_mr_e]

So I sent .42 btc... Now what?

[addzz]

So I sent .42 btc... Now what?

same here.  was there supposed to be something coming back?